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Gold Pattern Resolution Needed to Signal Breakdown

Gold Pattern Resolution Needed to Signal Breakdown

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Chart Prepared by Jamie Saettele, CMT

Automate trades with Mirror Trader and see ideas on other USD crosses

-“Pay attention to RSI, which has been coiling since November. The length of the momentum coil indicates a great deal of stored energy and the potential for an explosive move.”

-The latest attempt on the upside failed (RSI failed at its own trendline), which keeps the broader move sideways to down. Of note as well is a possible head and shoulders pattern.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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